After having been acquired by a Chinese company, Thomas Cook remains with the same name and brand as we know it. The Chinese company Fosun Tourism Group not only bought the Thomas Cook company, but also the rights to the Thomas Cook brand.
The Fosun Tourism Group purchased the Thomas Cook brand and trademarks of the hotel products Casa Cook and Cook's Club for well over 100 million Danish kroner. Part of the sale included the websites, the company's social media accounts, and global software.
Fosun Tourism Group
Fosun Tourism Group had, up until this point, been the largest shareholder in Thomas Cook and they have, together with this investment, other investments within the travel industry sector.
According to Qian Jiannong, Chairman of the Board of Directors of Fosun Tourism Group, the company will use the trademarks with its existing activities.
Jiannong also emphasizes that he finds Thomas Cook to be a very strong brand which they can benefit from keeping. And truthfully so, it is a brand that had more years behind it than most, as Thomas Cook was founded in Market Harborough in 1841 by the businessman Thomas Cook.
Jacob Pedersen sees the values
Danish Jacob Pedersen, Equity Analysis Manager at the Danish Bank Sydbank agrees with Jiannong on the value of the brand.
”It is possible that they’ve not been able to make money, but you have had a very strong brand and there has been a lot of loyalty around the Thomas Cook name”, Pedersen says.
”There is no doubt that the buyers of this brand can use it as leverage in creating more business and getting more business in the future”, Pedersen continued.
Filing for Bankruptcy
The name Thomas Cook will live on, even though the tour operator ended up going bankrupt in September. The company had been struggling for years and had faced several scandals.
Following the bankruptcy, the creditors attempted to sell anything worth selling. In addition to the now sold brands, the Scandinavian branches of Thomas Cook have also gained new owners.
It was announced at the beginning of November 2019 that Danish travel agency Spies, along with the other Scandinavian companies in Thomas Cook, had been sold to the Norwegian billionaire Petter Stordalen and the capital funds Altor and TDR Capital.
We believe that information should be free and will therefore never put up a paywall.
If you like reading our reports about the Scandinavian business scene and would like to donate towards the upkeep of the site, we would be very grateful. Click here to donate.
Tech | 🕐 03. Aug. 2020
Business | 🕐 04. Aug. 2020
Sustainability | 🕐 05. Aug. 2020
Startups | 🕐 13. Apr. 2020
Startups | 🕐 17. Apr. 2020
Startups | 🕐 27. Apr. 2020
Game Development | 🕐 18. Feb. 2020
Tech | 🕐 26. Feb. 2020
Tech | 🕐 24. Feb. 2020